Old Second Bancorp sets stock offering price at $4.40

Aurora-based Old Second Bancorp set a price of $4.40 per share for its public offering of 13.5 million shares of common stock.

The parent company of Old Second National Bank expects proceeds of the offering to total $55.9 million after deducting underwriting discounts and commissions. The offering is expected to close around April 8.

Keefe, Bruyette & Woods, A Stifel Company, is the book running manager and Sandler O'Neill & Partners, L.P. and FIG Partners, LLC are co-managers for the offering. The company has granted the underwriters a 30-day option to purchase shares representing gross proceeds to the company of up to an additional $8.9 million to cover overallotments, if any.